|
|
DERIVATION, PRODUCTION POSSIBILITIES CURVE: A production possibilities curve, which illustrates the alternative combinations of two goods that an economy can produce with given resources and technology, is often derived from a production possibilities schedule. This derivation involves plotting each bundle from the production possibilities schedule as a point in a diagram measuring the two goods on the vertical and horizontal axes.
Visit the GLOSS*arama
|
|
|
|
|
SCARCE A condition in which a given good or resource is limited relative to its desired uses. This is a special condition of the general condition of scarcity. A scarce good or resource is typically exchanged through markets and carries a positive price.
Complete Entry | Visit the WEB*pedia |
|
|
|
A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
|
|
|
"What gets measured gets done." -- Peter Drucker, educator
|
|
WLLN
Weak Law of Large Numbers
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
